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Economics
4 mins to read

‘We got this one totally wrong’: ANZ dials back on rate hikes

The RBNZ left the official cash rate on hold at 5.5%, with no rate cuts on the cards this year.

WATCH: BNZ chief economist Mike Jones speaks with Jonathan Mitchell.

Key points
  • What’s at stake: Whether the RBNZ needs to hike the official cash rate again this year because of stubborn inflation pressures. 
  • Background: The central bank left the OCR on hold at 5.5% yesterday.
  • Key players: RBNZ, Adrian Orr, Stats NZ, ANZ, Sharon Zollner, BNZ, Mike Jones, Salt Funds Management, Bevan Graham, Moody's Analytics, Shannon Nicoll, Westpac, Kelly Eckhold.

 

ANZ chief economist Sharon Zollner has dialed back on the chances of further rate hikes, admitting “we got this one totally wrong” after predicting two more hikes early this year.

Yesterday, the RBNZ reiterated the official cash rate needed to stay in the restrictive zone for a “sustained”

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Contact the Writer: jmitchell@nbr.co.nz
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Key points
  • What’s at stake: Whether the RBNZ needs to hike the official cash rate again this year because of stubborn inflation pressures. 
  • Background: The central bank left the OCR on hold at 5.5% yesterday.
  • Key players: RBNZ, Adrian Orr, Stats NZ, ANZ, Sharon Zollner, BNZ, Mike Jones, Salt Funds Management, Bevan Graham, Moody's Analytics, Shannon Nicoll, Westpac, Kelly Eckhold.

 

‘We got this one totally wrong’: ANZ dials back on rate hikes
Economics,
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